South Korea’s Hwaseung Enterprises is set to invest ₹1,720 crore to establish its first Indian manufacturing unit in Gangaikondan, Tirunelveli district. The large-scale facility, focused on non-leather footwear, is expected to generate around 20,000 direct jobs, marking one of Tamil Nadu’s biggest employment-creating footwear projects. The MoU will be formalized during the inaugural TN Rising conclave in Thoothukudi, a new regional investment initiative aimed at unlocking industrial growth in Tier 2 and Tier 3 cities.
Hwaseung, a strategic supplier to global sportswear giants like Adidas, currently runs operations in Vietnam, Indonesia, and China. Its decision to enter Tamil Nadu underlines a broader push towards geographical diversification and eco-conscious manufacturing practices. The move is also being hailed as a landmark moment in Tamil Nadu’s strategy to become a global hotspot for non-leather footwear manufacturing.
“This is a smart win — both for Tamil Nadu and India’s non-leather export ambitions,” noted a senior official, adding that Hwaseung’s entry could spark an ecosystem of component suppliers and contract manufacturers in the region. This development dovetails with a larger investment wave sweeping through southern Tamil Nadu. VinFast, the Vietnamese EV powerhouse, is also set to launch its integrated electric vehicle facility in Thoothukudi on August 4, underscoring the region’s rising industrial clout.
TN Rising Conclave: A New Investment Magnet
The ‘TN Rising’ conclave is expected to draw a dynamic mix of investors, industry leaders, policymakers, and academics, with multiple MoUs and sectoral announcements likely across domains such as green energy, electronics, and skilling initiatives. Structured to unlock the industrial promise of Tier-2 and Tier-3 cities, the conclave is part of Tamil Nadu’s vision to grow into a USD 1 trillion economy, driven by inclusive and sustainable industrial development.
“When I speak to investors, I often say: Tamil Nadu’s infrastructure is so robust, you could shut your eyes, point anywhere on the map, and still land on a business-ready site,” quipped Industries Minister Dr. TRB Rajaa on Sunday. “These regional conclaves prove that industrial growth in TN isn’t limited to metros — our strength lies in our geographic depth,” he added.
More Deals in the Pipeline
According to industry department insiders, several more MoUs are expected to be rolled out in the coming weeks, further cementing southern Tamil Nadu as a thriving investment corridor. With Tamil Nadu already accounting for 38% of India’s total footwear and leather goods output, officials say the state is now rapidly shifting focus to non-leather categories such as synthetic and performance footwear. The state’s non-leather ecosystem has recently been reinforced by major investments from Taiwanese players like Pou Chen, Feng Tay, and EKFL (under the Phoenix-Kothari umbrella), all key suppliers to Nike, Adidas, and Crocs.
From Leather to Lifestyle
As industry trends evolve, Tamil Nadu is consciously diversifying into non-leather and sustainable footwear segments, a shift driven by global demand, environmental concerns, and export potential. With the likes of Hwaseung setting up shop, Tamil Nadu is clearly lacing up for a bold, forward stride in the world of non-leather footwear exports.
